Phillips 66 (NYSE:PSX) Announces $1.15 Quarterly Dividend

Phillips 66 (NYSE:PSX) declared a quarterly dividend on Wednesday, February 12th,RTT News reports. Shareholders of record on Monday, February 24th will be paid a dividend of 1.15 per share by the oil and gas company on Wednesday, March 5th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.68%.

Phillips 66 has raised its dividend payment by an average of 7.5% annually over the last three years. Phillips 66 has a payout ratio of 38.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect Phillips 66 to earn $11.87 per share next year, which means the company should continue to be able to cover its $4.60 annual dividend with an expected future payout ratio of 38.8%.

Phillips 66 Price Performance

Shares of PSX stock traded down $4.50 during trading on Wednesday, hitting $125.05. The company had a trading volume of 3,895,288 shares, compared to its average volume of 3,270,905. The firm has a market capitalization of $51.64 billion, a P/E ratio of 25.31, a price-to-earnings-growth ratio of 5.64 and a beta of 1.37. Phillips 66 has a one year low of $108.90 and a one year high of $174.08. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. The stock’s 50-day moving average price is $118.94 and its 200 day moving average price is $127.57.

Phillips 66 (NYSE:PSX) last released its earnings results on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($1.38). Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. During the same period in the prior year, the company earned $3.09 EPS. Equities analysts expect that Phillips 66 will post 7.14 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Wells Fargo & Company boosted their target price on shares of Phillips 66 from $161.00 to $162.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Barclays decreased their target price on Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. UBS Group dropped their target price on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a report on Monday, November 4th. StockNews.com lowered shares of Phillips 66 from a “hold” rating to a “sell” rating in a report on Wednesday, February 5th. Finally, Bank of America initiated coverage on shares of Phillips 66 in a research report on Thursday, October 17th. They set a “buy” rating and a $156.00 price objective for the company. One research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $148.00.

Phillips 66 Company Profile

Phillips 66 operates as an energy manufacturing and logistics company in the United States, the United Kingdom, Germany, and internationally. It operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment transports crude oil and other feedstocks; delivers refined petroleum products to market; provides terminaling and storage services for crude oil and refined petroleum products; transports, stores, fractionates, exports, and markets natural gas liquids; provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.